Home > Practice > Current Affairs > September - 2024 > September 01, 2024
1. What is the annual interest rate offered by the Senior Citizens Savings Scheme (SCSS)?
The Senior Citizens Savings Scheme (SCSS) offers an attractive annual interest rate of 8.2%, providing retirees with a reliable source of income. Eligible individuals aged 60 and above can invest up to Rs 30 lakh in this scheme, which has a maturity period of up to five years. The SCSS can yield up to Rs 20,000 in monthly income, making it a popular choice for those seeking financial stability post-retirement. However, the income generated from this scheme is taxable.